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, chapter 1, pages 1-29, Palgrave Macmillan. 2012/271, International Monetary Fund., MIT Press, vol.
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Economic diversity is the process of transitioning an economy far from dependence on a single sector or source of income to several sectors and markets. This type of financial shift is presently underway in the Gulf Cooperation Council (GCC) region, where Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates are experiencing rapid socio-economic improvement.
The GCC region is undergoing a transformative stage focused on economic diversification and sustainable advancement.
A strong motorist behind financial diversification and green shift plans in the GCC is the well-documented impact of climate modification in the region being experienced now and in the future. The World Bank estimates that up to 100 million individuals in the Middle East, consisting of the GCC, will experience water tension by 2025, with parts of the area anticipated to become uninhabitable by the end of the century due to water scarcity and high temperatures.
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